Estimates of World Grain Production in 2012

By CnAgri2012-07-16 08:51:54 Print

World grain acreage and production are estimated to be 845 million hectares and 2.794 billion MT this year, up 3.0% and 1.1% respectively over last year.

Harvested wheat acreage and wheat production are estimated to be 230.7 million hectares and 679 million MT this year, down 1.33% and 3.46% respectively from last year. The wheat price decline since November last year and unfavorable weather led to a reduction of wheat acreage.

Corn acreage and production are predicted to increase noticeably this year. They are estimated to be 179 million hectares and 9.43 million MT this year, Up 3.71% and 4.30% respectively from last year.

Paddy acreage and production are predicted to increase noticeably this year， They are estimated to be 167 million hectares and 730 million MT （equal to 496 million MT rice ）this year, Up 1.50% and 2.17% respectively from last year.

Considering upslope grain price in the international market, grain consumption for food use may go up but consumption for feed use and industrial uses may be subdued.

Wheat, corn and rice prices registered $313/MT, $326/MT and $645/MT respectively in June, up 0.5%, 1.52% and 2.88% respectively over the month before, down 3.27%, up 9.76% and up 22.24% respectively on the year-on-year basis.

Owing to grain production increase, year-end grain inventory and safety index are predicted to go up to9.34 million MT and 39.0% respectively this year.

Specifically, world wheat, corn and paddy inventory are predicted to be 233 million MT, 304 million MT and 220 million MT respectively at the end of 2012, suggesting a safety index of 33.6%, 33.4% and 44.6% respectively.

From "China Grains Market Weekly Report"